Tsavo Media, which owns a network of more than 300 “informational” websites covering topics like gardening and pets, has been sold to online ad firm Cyberplex for $75 million. Tsavo says its sites reach 30 mllion unique users a month and generated $110 million in revenue last year. The company, which was founded by current MySpace (NYSE: NWS) co-president Mike Jones two-and-a-half years ago, acquired much of its portfolio by buying several hundred sites from MoxyMedia in late 2008.
Both Tsavo and Cyberplex are based in Canada and say that together they will make up “one of the largest” online ad firms in the country. The rationale for the acquisition, according to the release: “By matching Tsavo’s media properties and search marketing capabilities with Cyberplex’s network of over 10,000 publishing partners, Cyberplex will offer an unprecedented value proposition to tier one advertising clients and an extremely targeted advertising platform.”
Tsavo CEO Ted Hastings will be president of the new entity, while Cyberplex CEO and president Geoffrey Rotstein will presumably keep the CEO title. Cyberplex had tried to purchase ad network Burst Media last fall but was rebuffed.